Tax rate draws fire

8:48 PM,
Apr. 14, 2012

Written by

MALIA RULON HERMAN
| Courier-Post Washington Bureau

In a state where residents make higher than the national median income, New Jersey lawmakers are split over whether millionaires should be required to pay higher taxes.

At issue is a concept being pushed by President Barack Obama and the Democrats called the Buffett Rule. Named for billionaire Warren Buffett, who said that his secretary pays a higher tax rate than he does, the rule would require those making more than $1 million a year to be taxed at a rate of at least 30 percent.

The Senate was poised to vote as early as Monday on a bill written by Sen. Sheldon Whitehouse, D-R.I., that would put this ...